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Please help explain how you got your solution! Thanks in advance! :) ubsidiary paid $1,000 and $10,500 for dividends in 2018 and 2019. he amount
Please help explain how you got your solution! Thanks in advance! :)
ubsidiary paid $1,000 and $10,500 for dividends in 2018 and 2019. he amount of the [ADJ] consolidation entry to be included in the consolidation worksheet for the year ended December 31,2019 The unsold inventory at the end of a given year is sold to unaffiliated entities outside of the consolidated group during the next year. The parent uses the cost method of pre-consolidation Equity Investment bookkeeping. The balances of the subsidiary's retained earnings on December 31 of 2017,2018 and 2019 were $200,500,$283,500 and $357,000, respectively. The subsidiary's net income for the year ended December 31,2019 was $84,000. The subsidiary paid $1,000 and $10,500 for dividends in 2018 and 2019. The amount of the [ADJ] consolidation entry to be included in the consolidation worksheet for the year ended December 31, 2019 Select one: a. 3000x b. 3500 c. 4500 d. 0 e. 1500Step by Step Solution
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